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Dec 3, 2012
12/12
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revenue through tax reform, that means lower taxes, but tax reform, $800 billion. >> closing of loopholes and capping deductions. >> right. health savings, $600 billion. mandatory savings, $300. further discretionary savings, $300 billion. house republican counter getting you $202 trillion compared to the white house offer of $1.67 trillion, bill. >> we identified both sides now. >> and we begin. >> let's get them in the middle and find some middle ground there, somewhere, somewhere, in time. we'll see. meantime, market taking it in stride as we head to the close with 50 minutes left in the trading day. the dow down 41 points. at the low of the day we were down 56. >> we're going to start hearing the impact of sandy as we approach the holiday shopping season. sandy stimulated sales of new cars last month. see which automaker drove away with bigger gains, ford or gm. >> then pain at the pump. our next guest is warning a new ethanol fuel blend that not only costs more but adds to the cost of food could damage your car and void your warranty. really? you're going to want to hear this coming
revenue through tax reform, that means lower taxes, but tax reform, $800 billion. >> closing of loopholes and capping deductions. >> right. health savings, $600 billion. mandatory savings, $300. further discretionary savings, $300 billion. house republican counter getting you $202 trillion compared to the white house offer of $1.67 trillion, bill. >> we identified both sides now. >> and we begin. >> let's get them in the middle and find some middle ground there,...
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Dec 5, 2012
12/12
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rates, not just more in taxes, higher tax rates. but for some reason it must be higher rates, period. that's it. end of story. not because it is going to move the needle and fix our out of control debt, because it won't, not because it will put america on a fiscal sustainable path, because it won't. that is where the president has drawn his line in the sand. meanwhile, the president is now proposing a form of kicking the can down the road. raising taxes now with a promise to deal with entitlement reform and tax reform next year or beyond. that's the real worrisome proposal. here we are at the center of probably the most important fiscal conversation this country has had in decades. no one thinks we can continue on this spending path we are on without a day of reckoning coming sooner or later. why would we not seize the
rates, not just more in taxes, higher tax rates. but for some reason it must be higher rates, period. that's it. end of story. not because it is going to move the needle and fix our out of control debt, because it won't, not because it will put america on a fiscal sustainable path, because it won't. that is where the president has drawn his line in the sand. meanwhile, the president is now proposing a form of kicking the can down the road. raising taxes now with a promise to deal with...
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mostly tax increases, $1.6 trillion in tax increases, you know, double what he wanted during the campaign, he's calling for some budget cuts, but they're very unspecified, so most people don't believe they'll happen. if lew gets to preserve some of that in a deal with republicans, you know, he's golden. most people don't think they'll get all of that, but there's flies in the ointment we should point out. larry fink is often set to be on the periphery, major democratic supporter of president obama during his first term. he's said to be kind of like on a short list. we should point out that larry hasn't been called yet. the president seems to be siding with lew. things could change. fiscal cliff could be a big thing. lori: tell us more about the character of jack lew. we foe he's -- we know he's a tough negotiator -- >> he's the chief of staff right now. um, you know, he spent some time at citigroup, i know that. he's considered -- he was brought in to citigroup by, i believe, bob rubin, spent time in the clinton administration. people describe him as a pretty partisan guy. he's much more
mostly tax increases, $1.6 trillion in tax increases, you know, double what he wanted during the campaign, he's calling for some budget cuts, but they're very unspecified, so most people don't believe they'll happen. if lew gets to preserve some of that in a deal with republicans, you know, he's golden. most people don't think they'll get all of that, but there's flies in the ointment we should point out. larry fink is often set to be on the periphery, major democratic supporter of president...
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Nov 29, 2012
11/12
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we pay taxes overseas. we pay taxes here. we pay other forms of tax as well. i think that story hasn't been told. the fiscal terms that are in place here for our industry, for example, if punitive taxes were imposed on our industry, would impact our investment. i hope that's not where we're headed. i think there is a case to be made that we pay our fair share of taxes, and i work hard to try to communicate that. >> talk to us about an energy policy. what would you like to see in the election is behind us. what should a proper energy policy look like to do everything you're saying, create jobs and, in fact, take advantage of this opportunity that america has. >> i think the energy policy sometimes is made more difficult than it needs to be. to me, there are three things th that you need focus on. do you want affordable energy, do you want secure energy, and the environmental characteristics you want. we talk about those one at a time. we need to talk about those together. >> let me ask you a few questions about from the investment community. i guess the biggest
we pay taxes overseas. we pay taxes here. we pay other forms of tax as well. i think that story hasn't been told. the fiscal terms that are in place here for our industry, for example, if punitive taxes were imposed on our industry, would impact our investment. i hope that's not where we're headed. i think there is a case to be made that we pay our fair share of taxes, and i work hard to try to communicate that. >> talk to us about an energy policy. what would you like to see in the...
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Dec 6, 2012
12/12
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all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal and haven't asked for it yet. you think we're going to get a deal? >> i think they may try to push it to the end. the other thing i'm watching for is the 17th when the president is due to take his family to hawaii. i don't think he wants to be in hawaii without a deal. something is going to come up. >> ron, what about you? >> i thought the resignation of senator jim demint, who was a staunch conservative, which was a surprise departure, tells me the republicans in many ways are throwing in the towel on this deal. he's a guy
all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal...
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Dec 4, 2012
12/12
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it's broadening the base, perhaps lowering some taxes and overhauling that tax code. he said that would destroy american jobs. as the chief executive of a major u.s. corporation, do you agree with that? >> i think it's hard to decide whether it's going to destroy a job until you know what the specifics are. i do think you need to provide incentives for people to keep growing their business, to make more money. i think a really high progressive tax rate won't do that. i do think -- if you raise the rates by a couple points, it's not going to drive everybody crazy. i think what we have to do is get the government out of this industrial policy where every time we turn around, they want something done. they pass a tax law. they get people to invest in it. then they turn around and blame you for taking advantage of the tax law. they call it incentives. then they call it loopholes. i think we have to get the government out of that part of the business. that tax code has to be changed. >> you've got to pay your fair share. >> everybody should pay their fair share. >> allstat
it's broadening the base, perhaps lowering some taxes and overhauling that tax code. he said that would destroy american jobs. as the chief executive of a major u.s. corporation, do you agree with that? >> i think it's hard to decide whether it's going to destroy a job until you know what the specifics are. i do think you need to provide incentives for people to keep growing their business, to make more money. i think a really high progressive tax rate won't do that. i do think -- if you...
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Nov 30, 2012
11/12
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a jump in tax rates means a huge chunk of change. agents and players definitely taking notice in this. a lot of people are telling me it is not priority one because it is not so easy to get up front money in baseball which only gives big bonuses to draft picks. >> there could be some agents that will try to get some of that money front loaded but remember teams are only able to do so much. they are not going to for instance the b.j. upton deal signed with atlanta it is not as though his agent will get $75 million upfront. >> let's talk about upton. he just signed a $75 million deal with atlanta. he got 3 million bucks in a bonus payable by december 1. it jumps right off the page. upton's former teammate signed an extension this week. part of the deal included a $1 million bonus. this is not the baseballb way. the sport is more known for deferring money so it is obvious that the fiscal cliff is a big factor. >> amazing. fiscal cliff is everywhere. thank you so much. brian shactman. >>> it is not a doung grade to a specific company but
a jump in tax rates means a huge chunk of change. agents and players definitely taking notice in this. a lot of people are telling me it is not priority one because it is not so easy to get up front money in baseball which only gives big bonuses to draft picks. >> there could be some agents that will try to get some of that money front loaded but remember teams are only able to do so much. they are not going to for instance the b.j. upton deal signed with atlanta it is not as though his...